NEW YORK (HedgeWorld.com)--Credit Suisse First Boston picked its own head of global credit as the new chief executive of alternative investments for Credit Suisse Asset Management.
Jack DiMaio, the new CEO of alternatives, previously was head of CSFB's global credit products and head of fixed income in North America. In what is a new position at CSAM, Mr. DiMaio reports to Michael E. Kenneally, who recently was named chairman and global chief executive of CSAM.
In addition to overseeing all aspects of alternatives at CSAM, Mr. DiMaio is expected to launch traditional hedge funds, including a credit hedge fund slated for later this year. Other alternatives offered by CSAM include funds of funds, real estate, and structured finance.
He will join CSAM's executive committee, and will remain on CSFB's executive board. A spokeswoman for Credit Suisse said Mr. DiMaio's hiring "signals a commitment to grow the business."